Canada Goose (NYSE:GOOS) Cut to “Underweight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Canada Goose (NYSE:GOOS) from an equal weight rating to an underweight rating in a research note issued to investors on Monday, Marketbeat reports.

A number of other research firms also recently weighed in on GOOS. UBS Group dropped their target price on Canada Goose from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wedbush began coverage on shares of Canada Goose in a report on Friday, July 19th. They issued an “outperform” rating for the company. Barclays reduced their target price on shares of Canada Goose from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Raymond James downgraded shares of Canada Goose from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Canada Goose presently has an average rating of “Hold” and a consensus price target of $14.07.

Canada Goose Stock Performance

Canada Goose stock opened at $11.02 on Monday. Canada Goose has a fifty-two week low of $9.80 and a fifty-two week high of $14.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.63 and a current ratio of 2.14. The stock has a market cap of $1.06 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The firm’s fifty day moving average price is $11.18 and its 200-day moving average price is $11.90.

Canada Goose (NYSE:GOOS) last released its earnings results on Thursday, August 1st. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.02. Canada Goose had a return on equity of 25.63% and a net margin of 4.66%. The business had revenue of $64.39 million for the quarter, compared to analysts’ expectations of $63.47 million. On average, equities research analysts expect that Canada Goose will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in Canada Goose by 8.1% in the second quarter. Marshall Wace LLP now owns 1,087,414 shares of the company’s stock worth $14,060,000 after acquiring an additional 81,090 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Canada Goose by 0.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 605,050 shares of the company’s stock worth $7,297,000 after purchasing an additional 2,752 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Canada Goose in the 2nd quarter worth about $4,332,000. Raymond James & Associates boosted its stake in shares of Canada Goose by 14.4% during the 2nd quarter. Raymond James & Associates now owns 214,773 shares of the company’s stock valued at $2,777,000 after purchasing an additional 27,029 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Canada Goose by 15.5% during the second quarter. TD Asset Management Inc now owns 147,452 shares of the company’s stock valued at $1,906,000 after buying an additional 19,761 shares during the period. Institutional investors own 83.64% of the company’s stock.

About Canada Goose

Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.